Category Archives: South America bitcoin news

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South America: Crypto and Blockchain News Roundup 31st March to 6th April, 2019

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Brazil

Trading Volume on Brazilian Exchanges Increases 500% After Recent Appreciation of Bitcoin: Bitcoin’s sudden rise above USD 5000 has seen an unprecedented level of appreciation in cryptocurrency’s trade volume and investors’ interest in Brazil. On the three Brazilian exchanges, transaction volume increased by a whopping 500%, rising from 200 BTC to over 1700 BTC.

On BitcoinTrade, the valuation of trading went from BRL 3 million to BRL 17 million within the first two days of April. Similarly, for Bitcoin Banco group, the start of April saw record-breaking transactions, BRL 33.5 million in just 24 hours, making the company maintain a 24-hour SAC.

ABCripto and ABCB Join Forces to Carry out Mapping of the Bitcoin Industry in Brazil: The Brazilian Association of Cryptoeconomics (ABCripto) and the Brazilian Association of Crypto and Blockchain (ABCB) have joined hands, in collaboration with Grant Thornton Brasil, to map the entire Bitcoin and cryptocurrency industry in Brazil. The launch event for the research will officially be held on 10 April, at the Developer & E-Commerce Hub, São Paulo.

Fernando Furlan, president of ABCB, explained that they aim to create an X-ray of the market to reduce the regulatory problems in the sector since crypto activities currently do not have any specific regulations in Brazil.

Federal Revenue to Publish Strict Rules for Bitcoin in Brazil: The Federal Revenue of Brazil (RFB) will implement normative instructions until 15 April, which will introduce strict rules for Bitcoin and cryptocurrency trading platforms in the country. The document was first presented at the end of 2018 and afterwards went through a period of public consultation in compliance with Brazilian legislation.

This is not good news for the market since the rules will add complexities for the users and exchanges in the market. After the implementation, there will be a deadline for the adoption of new regulations for the market entities, and non-compliance will lead to possible penalties by the Federal Revenue.

Pakistan Piles on Pressure for Bitcoin Regulation Implementation in Brazil: Brazil has been struggling with the Financial Action Task Force (GAFIT / FAFT) regulations, and a recent move by Pakistan can exert even more pressure on the Brazilian financial institutions. FAFT has greylisted Pakistan, and in a bid to undo that and reduce the cases of money laundering and terrorist funding, it has recently announced a series of rules that will regulate crypto operations in the country. Now a similar response will be expected from Brazil, which was even expelled from the group due to the inconsistencies with the FAFT rules.

Among them is the requirement of “detailed implementation for effective regulation and supervision of virtual asset of service providers”, which needs to be adopted not only by Brazil but by all members of the G20.

Venezuela

Broke Venezuelans Turn to Crypto Bartering: In the wake of hyperinflation and nose-diving Venezuelan economy, many inhabitants are now turning towards crypto bartering to ease their woes. Bizarrely, Venezuelans are using crypto tokens as food bartering tools called the nano or the rail block. It is a zero-fee method of transferring value almost instantly, which was distributed among the people for free.

They only need to resolve the “captchas”, which are similar to the tests consisting of images or letters on the internet, to claim free tokens hosted on so-called “faucets”. An increasing number of people are now chasing these captchas, which is seen as a way to store value and protection from hyperinflation.

Argentina

Tim Draper Urges Argentina’s President to Legalize Bitcoin to Improve Economy: Crypto bull Tim Draper has advised the President of Argentina to legalise Bitcoin in the country to improve the struggling economy. The American venture capitalist met with the Argentine president Mauricio Macri on 20 March and urged him to consider the prospects of legalising the currency and the blockchain technology while iterating its benefits for their economy given the devaluing Argentine peso (ARS).

He went as far as proposing a bet, challenging the President that if Peso is valued more than Bitcoin, he will double his investment in the country. But if Bitcoin goes higher than peso, they would have to declare it as a national currency.

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The post South America: Crypto and Blockchain News Roundup 31st March to 6th April, 2019 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 24th to 30th March, 2019

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Brazil

Central Bank of Brazil Looks for Blockchain System Upgrades With an Innovation Program: The Central Bank of Brazil (BCB) has announced the launch of the second edition of the Laboratory of Financial and Technological Innovations (LIFT). The project looks to accelerate the development of technological innovation in the country’s financial system. Local authorities will select proposals for the innovations with the help of BCB and will collaborate with technology partner companies to create prototypes and solutions for the financial industry. The projects will also address some priority actions for the “BC+” Agenda, which aims at increasing banking efficiency, lowering credit, modernizing the financial system, and enhancing financial inclusion.

CoinBene Brasil Clarifies That It Was Not Hacked: Amidst the circulating rumours, CoinBene unit in Brazil clarified that there was no hacker attack on the platform on 26 March. The suspicions arose after the exchange suspended their operations without any prior notice. However, the company clarified that it was nothing more than a failure of communication with the users. Initially, the company’s Twitter handle announced that it was going through a maintenance period and said,

“In order to improve our users’ experience, CoinBene is updating its wallet platform on the 26th of March. During maintenance, portfolio-related operations will be affected, as will deposits and withdrawals. Trading will not be affected.”

But some members of the exchange claim that the ‘maintenance’ was initiated as a preemptive precaution to avoid any potential threats considering the recent attacks on three exchanges in Singapore.

Banco do Brasil Is Required to Keep Foxbit Accounts: Foxbit has finally won a milestone decision against Bradesco, Banco Inter, and Banco do Brasil, which are now required by law to keep Foxbit’s bank accounts open. It was reported that CAIXA closed the Foxbit account without following all steps recommended by the Central Bank, and the Brazilian court found this enough reason to rule in favour of Foxbit. Previously, Banco do Brasil closed Foxbit’s account citing unlawful company activities as the reason, and the lawsuit has been running since 2017. But this watershed moment will encourage more activity in the Brazilian financial markets, as it marks the first favourable decision for any Brazilian crypto company.

Educational Entities Launch the First Blockchain Course for Business in Brazil: The leading blockchain education institutions in Brazil, Mosaic University and Blockchain Academy, have announced their own one of a kind Blockchain Business course. The course will explain the blockchain landscape in Brazil and will go into in-depth concepts like smart contracts, self-executing computer protocols, and tradeoffs for blockchain infrastructures. It also touches concepts like the nature of tokens, crowdfunding models via blockchain, decentralised applications, and Web 3.0. The course is 100% online with a workload of 42 hours and requires no prior blockchain knowledge.

Argentina

Argentina Wants to Surpass Brazil and Take the Lead in Latin America Blockchain: The government of Argentina has made its intentions clear as it tries to take over Brazil and become a leader in technological innovation in Latin America. For instance, the government held a meeting of Secretariat of Science and Technology with the representatives of the private sector, scientific, and academic community to draw up the policy guidelines for the National Artificial Intelligence Plan 2020-2030. The goal of the meeting was “to define a plan throughout 2019 and insert it into the government’s Digital Agenda to develop a digital intelligence lab.” The government has also enacted several other groundbreaking initiatives such as the development of Artificial Intelligence and blockchain applications, and the Ministry of Production and Labor announced a partnership in Latin America with Binance Labs to financially support the development of blockchain-based projects.

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The post South America: Crypto and Blockchain News Roundup 24th to 30th March, 2019 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 3rd to 9th March, 2019

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Argentina

Binance to Collaborate With Argentina’s Government on Blockchain Projects: In order to co-invest in a series of blockchain related projects, Binance is planning to join hands with Argentina’s government, notes a report.

The government will collaborate with LatamEx (regional exchange) and Binance Labs (Binance’s innovation arm).

Previously, Binance announced that Buenos Aires will be chosen as its Latin American hub before the upcoming round of development. According to the report, USD 50000 will be funded by the government for around 40 blockchain projects over a span of four years.

Brazil

Brazil May Regulate Crypto Sector Again Following GAFIT Request: Financial Action Task Force (GAFIT / FAFT) requests Brazil to adopt similar regulations for both crypto exchanges and banks. According to a media report, crypto sector may suffer a setback as Brazil may decide to respond to the said request. On 22 February, a meeting was held in France and it was decided to regulate crypto services providers. In the previous week, the G20 group (responsible for the regulations) requested the participating countries (35) to consider the crypto sector the same as the banking sector.

Brazil to Present Blockchain Related Articles in an International Conference on Accounting: During the 2nd International Conference on Accounting, Brazil will report the potential of digital assets in transforming processes in the public sector. The said congress will be held during the month of March in Portugal, states media outlets.

The article titled “Use of Blockchain Technology as an Instrument of Digital Governance in the Public Sector” will be presented by the vice-rector of the University of Brasília.

The theme of the conference is “Financial Management Reform – Challenges for Research and Practice”.

Brazil Ranked as the Fifth Largest Country to Own Cryptocurrency: Brazil has been ranked as the fifth largest country in the world with respect to the Bitcoin and digital currency owners. Global Digital Report issued the recent rankings, placing Brazil above China, Japan, and the USA. Around 8.1% Brazilians (aged between 16 and 64) own some kind of digital currency. On the other hand, the world average is around 5.5%, noted the report.

A new level of security can be achieved by using blockchain technology, maintained CargoSnap’s co-founder Daniel Lins: Lins recently highlighted the importance of investing in technologies that can ensure risk management. Risk management that can be done by using tamper-free certifications or that can identify the person who did the tampering are very crucial, he added. By using blockchain technology, a new level of security and protection can be achieved.

Brazil’s Legislative Chamber Refuse to Accept Blockchain Backed Digital Signatures: The Legislative Chamber of the Federal District has refused to accept blockchain backed digital signatures, according to a report. The chamber maintained that the digital method of obtaining the signatures is “invalid”.

The project, named as Cheapest Chamber, was initiated by Institute of Society and Technology of Rio (ITS-Rio). In order to present a bill to the legislature, ITS-Rio digitally collected the necessary signatures. However, the Legislative Chamber has refused to accept those signatures.

Director ITS-RIO, Rolando Lemos stated that it is unfortunate that less secure and much difficult to obtain physical signatures are preferred over digital signatures.

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The post South America: Crypto and Blockchain News Roundup 3rd to 9th March, 2019 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 23rd February to 2nd March 2019

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Brazil

 Brazil Can Regulate Exchanges Using the Same Rules Applied to Banks: Cryptocurrency exchanges in Brazil can face a new setback in case their government decides to respond to the latest Financial Action Task Force (GAFIT/FAFT) requests.

GAFIT finalized the supervision requirements for monitoring cryptocurrency services this week, followed by the G20 group binding 35 countries involved to adopt same rules for active crypto platforms as regular banking systems instead of having specific legislation for the segment. The task force insists that these measures are required to prevent misuse of cryptocurrency for illegal transactions.

TrueUSD Creator Attends an Event in São Paulo; Praises Brazilian Startup: Tory Reiss, creator of TrueUSD (TUSD) met with the Atlas Quantum management in São Paulo this Monday and expressed how impressed he was by the Brazilian platform’s potential. He termed the platform as “the future of investments” courtesy its open model that allows investors around the world unlimited access to almost all features. He also pointed out that the future of money lies in the digital markets with stablecoins as the perfect solution for all kinds of transactions.

Reiss elaborated on the pitfalls of using the current credit cards as it involves a plethora of agents and rates, whereas a stablecoin removes all the unnecessary bureaucracy. He also revealed that unlike a lot of market analysts, he welcomes JP Morgan’s move to launch their own stablecoin known as the JPM Coin.

Brazilian Civil Aviation Agency Aims at Blockchain: The National Civil Aviation Agency (ANAC), an organization in Brazil responsible for overseeing economic and technical aspects of civil aviation activities, has expressed interest in exploring the opportunities blockchain technology can offer for their operations. The agency has also authorized a civil servant in a commissioned position to visit the upcoming ICAO Blockchain Aviation Summit and Exhibition, to be held on 3 – 4 April 2019 in Abu Dhabi, United Arab Emirates.

The event offers aviation industry stakeholders an opportunity “to explore innovations in blockchain technology that enhance safety and economic viability of civil aviation systems.” The event also aims to bring “consensus” among aviation stakeholders on the deployment of blockchain while “promoting a global governance structure to accelerate the adoption of blockchain technology in aviation.”

Venezuela

Venezuela to Raise USD 1 Million in Bitcoin for Aid: Amidst all the chaos in Venezuela, it is again the cryptocurrency which is stirring up the headlines. Recently cryptocurrency wallet platform AirTM and artist cryptograffiti announced their initiative to raise $1 million to aid Venezuelans in tough economic times using a “legitimate” Bitcoin installation. This move is seen as a way to delegitimize President Maduro’s own oil backed cryptocurrency, Petro.

The initiative “Airdrop Venezuela” is led by Steve H. Hanke and aims to inject financial aid into the Venezuelan economy through cryptocurrencies using the Bitcoin blockchain network to add real-world usage for the digital currencies. The campaign accepts donations in many cryptocurrencies and claims that 100% of the donations will be sent to Venezuelan recipients.

Argentina

There’s No Crypto Winter in Argentina, Where Startups Ramp Up to Meet Demand: Argentina has been slowly but surely making a mark in the cryptocurrency world, where the country recorded an all-time high usage of peer-to-peer exchange LocalBitcoins, transacting 9.4 million Argentine pesos in weekly volume in December 2018. And the gains were largely unaffected by the crypto crisis across the globe, with the Bitcoin exchange steadily growing since the 2017 token boom.

Local cryptocurrency entrepreneurs also admitted that despite the recent crypto volatility, the local demand has been consistently increasing. This can also be attributed to the fact that a large number of Venezuelans have immigrated into the country, and hence the demand for banking services, financial tools, and remittance services have also increased.

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The post South America: Crypto and Blockchain News Roundup 23rd February to 2nd March 2019 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 16th to 22nd February 2019

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Brazil

Banco Do Brasil Receives Authorization from the Courts to Close Atlas Quantum Account: Brazilian courts have ruled in favor of the second largest bank of Brazil, Banco do Brasil, and have authorized them to close the cryptocurrency company, Atlas Quantum’s account.

This came as a result of the Administrative Council of Economic Defense (CADE) responding to a lawsuit filed by the ABCB (Brazilian Association of Cryptoeconomics and Blockchain), pleading Atlas’ case against the closure of their accounts on the basis of “lack of regulation in the cryptocurrency operations.” The judge, Gustavo Coube de Carvalho, also ordered Atlas to pay  BRL 5 thousand for administrative costs, but the crypto company has decided to appeal the decision again.

Brazilian Investor Just Accidentally Bought Bitcoin at USD 20,000: A Brazilian trader recently made headlines for “accidentally” buying bitcoin at a massive loss, as he bought 0.0047 BTC for 340 Brazilian reals (~USD 91), whereas it was worth less than USD 15 on other exchanges. This means that he lost a whopping USD 19,400 for the total transaction while he placed his order on the local exchange TemBTC.

The trader’s unexpectedly large market order “cleaned” the platform’s thinly-traded order book, and after that, some bitcoins were also bought for USD 10,000, USD 16,000, and USD 13,000 before peaking at USD 19,000. The order exhibited a clear lack of knowledge from the trader when working with larger market orders as the trader paid a bitcoin’s all-time high price on Brazilian exchanges, which was previously recorded at USD 18,900 in December 2017.

Argentina

Argentina Accepts Bitcoin Payment for Goods Sold to Paraguay: In a historic transaction, the two South American neighbors, Argentina and Paraguay, employed Bitcoin to pay for an export deal between the countries. In the transaction, Bitcoin was used as the means to process payment, where at the end the exporter received Argentine pesos or dollars and the buyer paid in local currency.

The transaction offered a critical advantage of speed, where the payment was settled within an hour and avoided typical delays that can linger up to three days.

Latin America’s Largest Investment Bank Launches Security Token: While Brazilian cryptocurrency banks have seen their fair share of problems, finally some good news comes their way as BTG Pactual, Latin America’s largest standalone investment bank announced the launch of its security token ReitBZ. The bank plans to raise up to USD 15 million in its token sales, which will be backed by distressed real estate assets in Brazil.

The ReitBZ token will use blockchain technology, and the investors can buy it through ETH or Winklevoss twins’ Gemini Dollar. According to the bank, investors would get yearly returns of 15-20 percent, and BTG will also be providing market-making services for the token to offer sufficient liquidity. ReitBZ’s initial sale period will last for ~90 days and the money collected will be reinvested into the portfolio.

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The post South America: Crypto and Blockchain News Roundup 16th to 22nd February 2019 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 9th to 15th February 2019

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Brazil

Crypto Association Launches Crypto Prize: ABCripto, one of the top two crypto exchanges in the country has launched a new crypto prize to recognize the leading experts in the field who are working in startups and market development.

The new ABCripto Prize is open for entries and applications must reach ABCripto by March 16, 2019. All innovators involved in this sector can apply for the prize by following this link. 

There are three categories for prizes in the event, including Professional of the year, Academic and Influencer. The actual date, place, jury and other details will soon be announced by the association.

Florianopolis Shopping Center to Accept Bitcoin in a First: Brazilian city of Florianopolis will see a host of new outlets accepting Bitcoin as payment at the new Multi Open Shopping Mall. They include a movie theatre, stores, and other commercial areas. More than 90 outlets in the arena are expected to accept BTC.

The BTC payment will be enabled in partnership with Bancryp which has also invested in an office in the space. Florianopolis is swiftly becoming an important tech hub of the country and accepting crypto payments will bring more investment and jobs to the area.

P2P Bitcoin Traders Adopt New Price Index: P2P Bitcoin vendors in Brazil have adopted a different Bitcoin price index because of premium related issues. While Bitcoin trading on exchanges is booming in the country, P2P vendors and traders like the ones operating on localbitcoins.com have different dynamics and thus have jacked up the price of the cryptocurrency which is a little higher than the latest official exchange rate.

There is a new index called the Brazilian Real Index (BRIX) that now truly determines the actual exchange rate in these cases. It has already been adopted by invested.com in the country.

New Bill Could Help Blockchain Penetrate Further: Newly elected president Jair Bolsanaro will soon sign a new decree that will help cryptocurrencies and blockchain projects working in the country. According to the Civic House of the Republic, the new bill will include provisions to integrate all documents with the CPF (Register of Citizens).

The new CPF integration will be registered on the blockchain, on a platform developed in partnership with Dataprev. With this implementation, Brazil will become the first country to register its citizens on a blockchain application.

Argentina

First Export Deal Settled with Bitcoin Payment: The Argentinian government has exported pesticides and fumigation products to Chile using Bitcoin in a first between the two countries. The deal was worth USD 7,100 and may form the basis of increased BTC use in the region.

The payment was facilitated by Bitex, a South American crypto payments enabler. Argentina is seeing increasing adoption of cryptocurrencies as the country is suffering from hyperinflation and other economic issues. Experts believe cryptocurrencies can help Argentina progress economically.

Chile

Central Bank Believes Cryptocurrencies are Unable to Substitute Fiat: The Chilean central bank believes that cryptocurrencies do not have the capacity right now to replace fiat currency.

In a report sent to the Tribunal de Defensa de la Libre Competencia (TDLC), a competition commission in the country, the bank’s research argues that cryptocurrencies’ market penetration and usage has many issues and it will take time for them to reach at par with the fiat currency. Legal issues and compliance will also be discussed.

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South America: Crypto and Blockchain News Roundup 2-8 February 2019

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Brazil

Bitcoin’s Presence in the Carnival: Rio Di Janeiro’s extravagant carnival that draws thousands of people from around the world is likely to be full of crypto references in the country. The move is relevant because the cryptocurrencies and other blockchain applications are gaining increasing traction in the country.

Last year, Sao Paulo’s carnival had a whole block dedicated to blockchain and bitcoin for the first time. This year, the carnival in Rio will have an even more presence of cryptocurrencies.

Exchange to Help Socially Vulnerable Young People with Crypto Donations: Brazilian exchange Coinext is aiming to help young people who are in a socially vulnerable situation with the help of cryptocurrencies.

The move called Recode Movement is trying to implement the ideology of digital inclusion and dissemination of knowledge while helping people in the process. The donated amount will go directly to the Recode’s portfolio which has been operating for more than 20 years.

Recife Region Trying to Promote Cryptocurrencies for Mainstream Adoption: Brazilian region of Recife is working on implementing cryptocurrencies for daily use including acceptability in banks, retailers, eateries and other public places.

According to Raphael Vasconcelos, the owner of a local cafe:

“We are benefited by being in the technology region of Recife, where it is easier to find people with a portfolio of bitcoins in their pockets, but the staff has used them. This creates a good image for us”

There are currently over 80 places that accept cryptocurrencies from gas stations to retailers and even legal firms.

House of Representative to Discuss Bitcoin Regulation: The Brazilian Chamber of Deputies saw a new cryptocurrency regulation bill filed. The details of the bill are currently not well known and more clarity will come once the bill will go under discussion in the house.

The bill was authored by Deputy Aureo Ribeiro from Rio but he was unavailable for comment till the reporting of this news. Cryptocurrency regulation is a sensitive issue in the country as the government is torn between allowing the new asset class to grow and create jobs while trying to clamp down on money laundering and other negative uses of the sector.

Venezuela

New Crypto Bill Enforced: A new piece of crypto legislation named “Constituent Decree on the Integral System of Crypto Assets” has been enforced in the South American country. The much-delayed legislation was initially approved as early as 2018 by the constituent assembly but was delayed due to official red tape.

The bill includes extensive 63 articles that cover a wide range of topics from definitions of blockchain, mining, cryptography, and more. It also has a definition for national cryptocurrency, which in Venezuela’s case is the Petro. But, the bill also empowers the national crypto watchdog named Sunacrip to have overwhelming control of all crypto platforms.

Argentina

37 Cities to Allow Commuting Charges to be Paid in Bitcoin: 37 cities all across Argentina will now allow paying of commuting charges through Bitcoin. The commuters use a card named SUBE that can be recharged with money electronically.

The addition of Bitcoin as an alternative has been received positively by the Argentinians as more and more parts of the country warm up to the idea of cryptocurrencies for daily use. Cryptocurrency platform Bitex will be used to transfer BTC to the SUBE card.

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South America: Crypto and Blockchain News Roundup 19 to 25 January 2019

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Brazil

Blockchain Pioneer Believes Bitcoin will End Notaries: Brazilian blockchain pioneer Aleksander Mandic is of an opinion that the new technology represents a new era for the internet and will help end government notaries in Brazil. Notaries are magistrates or other senior government officials who act as impartial judges when documents are signed.

Mandic gave his views to a local business news outlet called Valor Economico.

According to him:

“Blockchain will act as a trustworthy digital system with immutable record keeping visible to all stakeholders while being incredibly cheap and easy to maintain”

But, other blockchain promoters like Carl Amorim do not share this view and believe that blockchain will not remove the need for notaries but rather update it and improve it.

Ledger Nano S Starts Pre-order in Brazil: The latest version of Ledger Nano hardware wallets can now be pre-ordered in the country. The new device will come with a variety of new options including Bluetooth connectivity.

However, the inflated price tag of the new hardware wallet has raised some eyebrows.

Securities Commission Denounces Rumours Regarding ICO and STO Regulation: Brazilian Securities and Exchange Commission (CVM) has denounced online rumours that it is going to tighten regulations on Initial Coin Offerings (ICOs) and Security Token Offerings (ICOs).

The current law sees companies with less than R $10 million in revenue as small businesses and doesn’t require them to register with the regulator. According to a recent communique from the regulator:

“The CVM is constantly modernizing regulations due to different factors including innovative infrastructures, supervision, demands of market agents and others. At the moment, the subject in question (ICOs and STOs) are not in the scope of initiatives to be prioritized in the short term”

University to Offer Higher Studies in Blockchain Technology: Brazilian university Uninter is going to offer a new higher course named “Blockchain, Crypto-Coins, and Finance in the Digital Era” for crypto and blockchain enthusiasts in the country.

With the total manhours set for this course at 1,940, it will cover a wide range of subjects like financial accounting, international financing system, Artificial Intelligence, and Electronic Payment Security.

Brazilian Experts to Talk on Blockchain During the World Economic Forum Meeting: Brazilian cryptopreneurs Eduardo Carvalho and Fábio Asdurian were invited to talk during the latest meet of the World Economic Forum taking place in Davos, Switzerland.

The premier economic forum of the world will see renewed discussions and panels on blockchain and cryptocurrencies as they continue to disrupt the conventional economic model prevalent in the world.

Report Shows Brazilians Traded R $6.9 Billion worth of BTC in 2018: A new report by analyst Fernando Tracelli shows that Brazilians traded almost R 7 billion of BTC during 2018 alone.

The report titled Annual Report: Brazilian Market of Cryptocurrencies 2018 shows that the 2018 volume while significant, is 22% less than that of 2017 which largely fell under the bull market.

Brazilian Expert Believes that Blockchain can Increase Life Expectancy: Brazilian expert Ailtom Nascimento, executive vice president of Stefanini believes that blockchain can help increase life expectancy in the country. 

Nascimento believes that the integration of blockchain into health-related services will help provide better healthcare and thus, greater life expectancy.

Venezuela

Petro Cryptocurrency in trouble as Venezuelan Political Crisis Ensues: The current Venezuelan president Nicolas Maduro’s flagship project Petro will be in danger as the political uncertainty grows in the country.

Currently, the opposition leader Juan Guaido has declared himself as the interim president amid mass protests that have engulfed the oil-rich nation. With reports of US backing a coup in the country, the cryptocurrency project may bite the dust if a new regime is successful in assuming control of the country, one way or another.

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The post South America: Crypto and Blockchain News Roundup 19 to 25 January 2019 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 12th to 18th January 2019

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Brazil

Brazil Is One of the Top Countries With Users Affected by Malicious Apps on the Google Play Store: A global cybersecurity giant, Trend Micro, has recently made a worrying discovery as it exposed a computer spyware called ANDROIDOS_MOBSTSPY that hides itself as an Android application and steals personal information from users of the Apps available for download on the Google Play Store.

Although this is not a malicious crypto mining scam like before, the app was found phishing for information and reportedly affected wallet services and accounts installed on the phone. The attack impacted people from 196 different countries, with Brazil ranking at the sixth place in terms of the most downloads. Some of the apps affected by the problem include Flappy Birr Dog, FlashLight, HZPermis Pro Arabe, Win7imulator, Win7Launcher, and Flappy Bird.

Brazilian Fintech Picks Ripple Over Swift for International Payments: The Brazilian fintech Remessa Online has decided to switch from the traditional Swift banking network to a much cheaper blockchain-based Ripple solution.

Ripple has recently been making waves after being adopted by international banks and financial institutions. The network has grown to over 200+ partner banks around the globe. This move will cut down the cost of sending money from $40 per transaction to approx $1.6 with no extra fee while allowing transactions to 20+ countries, which comes as a massive relief for the frequent dealers.

Brazilian Exchanges Announce That They Will Support Hard Fork in Ethereum: Almost all major Brazilian exchanges including Bitcoin Market, Bitcoin Trade, Braziliex, Foxbit, 3xBit, and Stratum CoinBr have announced their support for the hard fork on the Ethereum network and the new implementations of Constantinople. They have already started the preparations to accommodate the changes.

Although there has been a delay in the execution of hard fork, originally scheduled to take place on January 16th due to some security vulnerabilities, the Brazilian companies have still decided to add additional security measures such as suspension of withdrawals and deposits or added layers of confirmations to ensure seamless adoption when it eventually occurs.

Brazilian Association Awaits Cade’s Response to the Closure of Exchange Accounts: At the closing of the year 2018, the Brazilian Association of Cryptoactive and Blockchain (ABCB) reported a staggering growth of their membership from 2 members just eight months ago to a total of 37 associated companies.

But, any similar success in 2019 hinges on the final decision of CADE (Administrative Council for Economic Defense) on the termination of exchanges’ current accounts by large banks. The alleged malpractice was reported to CADE on ABCB’s request last September, and cryptocurrency exchange hopes that the monetary authority will follow suit of similar organizations in Korea and Chile and rule in their favor.

Exclusive: Federal Revenue Intends to Launch Digital CNPJ With Blockchain in Brazil: The Brazilian Federal Revenue Service (RFB) has announced the expansion of its research and development in the field of blockchain and has decided this year to launch a digital CNPJ, on blockchain along with bCPF.

RFB’s also elaborated that they don’t want to develop a set of products for the market but want to make the cryptocurrency activities for the stakeholders easier and more centralized. The services are expected to be initiated in the first quarter of 2019, although there is no fixed date given.

Venezuela

Venezuelan President Multiplies the Value of El Petro Cryptocurrency by Ten: President of Venezuela, Nicolas Maduro, has announced an increase of 10x in the country’s new national cryptocurrency, el Petro, to 36,000 Sovereign Bolivars while raising the minimum wage by 18,000 sovereign bolivars.

Given the hyperinflation veering towards 2,000,000% in the country, the step will hope to alleviate the crisis by increasing the minimum wage by 300%. Venezuela is looking to break the shackles of US sanctions via el petro cryptocurrency, and despite its volatility, many Venezuelans welcome and prefer Petro over the now increasingly valueless bank notes.

Venezuelan Government Giving Discounts for Property Bought With Petro: In a bid to increase the usage of their newly launched cryptocurrency Petro, Ildemaro Villarroel – Venezuela’s minister for Habitat and Housing, announced that they are offering 10% discount on all properties bought with Petro under the government’s Great Housing Mission scheme.

Although currently, only 15 local construction companies are using the state-backed digital currency,  Villarroel insisted that they are working with private companies to provide low-cost housing, with a goal of building 3 million+ houses, while using Petro for all concerned business deals.

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The post South America: Crypto and Blockchain News Roundup 12th to 18th January 2019 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 5th to 11th January 2009

South America

South America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

Venezuela

Government protests US Petro sanctions: Venezuela has registered a formal complaint to the World Trade Organization against the US sanctions on its cryptocurrency, Petro. The South American country revealed the development of the new cryptocurrency near the end of 2017 and managed to launch it in 2018. But although it has been in use within several different industries, it has seen a stiff resistance from US lawmakers, and more significantly, by President Donald Trump, who passed an executive order to undermine Petro last March.

Given the perpetually nose-diving bolivar and the consequential spectacular economic inflation, Venezuelan strongman Nicolás Maduro sanctioned the use of cryptocurrency to collect taxes from crypto businesses in the country. But the hurdles set by the US mean that any economic relief is highly unlikely. According to Reuters, the US will now have to respond to the complaint to the WTO within 60 days; otherwise, the organization will have to decide on the complaint’s merits.

Brazil

Brazilian analyst says not possible to compare Bitcoin with tulip bubble: Bitcoin is usually contrasted with the Tulip Mania, which was an economic phenomenon during the Dutch Golden Age where tulip buds reached extraordinarily high levels and then dramatically collapsed in 1637. But Samuel Maurer, an analyst at the Bitcoin Banco Group, has dispelled this notion and claims that there is no similarity of the Bitcoin phenomenon with that event.

To justify his claim, the analyst referred to the fact that the cost to price ratio is different from the tulips and this completely differentiates the two phenomena. He also emphasized that cost of Bitcoin production always increases as the value increases, and the market crash in 2018 and the following small recovery in 2019 signifies the health and liquidity of the crypto active market and makes it impossible to be compared with the “tulip fever”.

Brazilian crypto holders seek physical vaults for storing digital assets: As counterintuitive and ironic as it sounds, Brazilian whales and cryptocurrency investors have turned to the good old iron vaults to safeguard their digital cryptocurrency assets. Crypto crimes usually comprise intricate hacking and fancy technologies but recently, there has been a surge in traditional methods of theft like banditry, extortion, and kidnappings.

This means that many Brazilian investors have started to store their wealth in rather elaborate cold storages secured by several armored and reinforced steel doors. The doors can only be accessed using biometrics of authorized persons and palm scanners reading up to 5 million individual points on the hand and the blood pressure through infrared waves.

Chile

Supreme Court validates decision to close crypto exchange’s bank accounts: TheChilean Supreme Court has backed the decision of keeping closed the account of cryptocurrency exchange Orionx with state-owned BancoEstado. The saga began earlier this year, when Chilean banks Itau Corpbanca, Bank of Nova Scotia, and Banco Estado decided to curb the cryptocurrency operations in the country by shutting down accounts of the largest digital assets platforms Crypto MKT, Buda and Orionx. An appeal in the Supreme court was filed by the crypto companies in July, but the latest decision of the apex court supporting the actions of the bank and calling crypto activities “illegal and arbitrary” spells bad news for the future of cryptocurrency in the country.

Argentina

NEM Foundation to develop blockchain-powered copyright system for journalists: NEM Foundation and CISPREN, a local trade union of journalists of the city of Cordoba, have signed a Memorandum of Understanding which will lead to the establishment of a blockchain-powered solution for copyright protection. The memorandum aims to solve problems associated with protection of intellectual property rights, including content theft, plagiarism, and royalty defaults.

The solution will allow authors to upload their content directly to the blockchain, which will create a timestamp as proof of authenticity and will also attach a unique QR code and a digital signature to each piece to serve as a proof of ownership in case of any fraudulent activities.

 

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